Orion Portfolio Solutions LLC Cuts Stock Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Orion Portfolio Solutions LLC cut its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,659 shares of the insurance provider’s stock after selling 95 shares during the period. Orion Portfolio Solutions LLC’s holdings in The Hanover Insurance Group were worth $838,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC purchased a new stake in The Hanover Insurance Group during the third quarter valued at about $25,000. V Square Quantitative Management LLC purchased a new stake in shares of The Hanover Insurance Group during the 3rd quarter worth about $26,000. Point72 Hong Kong Ltd acquired a new stake in The Hanover Insurance Group during the 2nd quarter worth approximately $25,000. 1620 Investment Advisors Inc. purchased a new position in The Hanover Insurance Group in the second quarter valued at approximately $42,000. Finally, Capital Performance Advisors LLP acquired a new position in The Hanover Insurance Group during the third quarter valued at approximately $60,000. 86.61% of the stock is currently owned by institutional investors and hedge funds.

The Hanover Insurance Group Stock Performance

The Hanover Insurance Group stock opened at $154.85 on Tuesday. The Hanover Insurance Group, Inc. has a 52 week low of $119.36 and a 52 week high of $166.13. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.27. The stock has a market cap of $5.58 billion, a P/E ratio of 15.36 and a beta of 0.71. The stock has a 50 day moving average of $156.29 and a 200-day moving average of $142.55.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.40. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.67 billion. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the business earned $0.19 EPS. On average, analysts expect that The Hanover Insurance Group, Inc. will post 11.41 EPS for the current fiscal year.

The Hanover Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Friday, December 13th. This is an increase from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The Hanover Insurance Group’s dividend payout ratio (DPR) is currently 35.71%.

Insider Activity

In other news, EVP Jeffrey M. Farber sold 4,800 shares of The Hanover Insurance Group stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $150.41, for a total value of $721,968.00. Following the completion of the transaction, the executive vice president now directly owns 80,790 shares of the company’s stock, valued at approximately $12,151,623.90. The trade was a 5.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 30,251 shares of company stock worth $4,736,935. 2.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on THG shares. Bank of America raised their target price on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods raised their price objective on The Hanover Insurance Group from $164.00 to $170.00 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Oppenheimer upped their target price on The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Piper Sandler raised their target price on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, JMP Securities upped their price target on The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and an average target price of $173.29.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.